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Navios Maritime Holdings Inc. (NYSE:NM) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.52%.
Navios Maritime Holdings Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 1000% to $1.32 in the quarter versus EPS of $0.12 in the year-earlier quarter.
Revenue: Decreased 23.7% to $128.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Navios Maritime Holdings Inc. reported adjusted EPS income of $1.32 per share. By that measure, the company beat the mean analyst estimate of $-0.09. It beat the average revenue estimate of $123.13 million.
Quoting Management:Angeliki Frangou, Chairman and Chief Executive Officer of Navios Holdings stated, “I believe that Navios Holdings is poised to capture any upturn in the market. During the past few years, as the maritime industry suffered, we focused our energies on controlling that which we could. Today, we not only have excellent cost controls and superb technical management capabilities, we also have a strong balance sheet. As a result, we continue returning capital to our shareholders through dividend payments and declared a $0.06 dividend for Q4 2012 to shareholders of record on March 20, 2013.”
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